University of Wisconsin President Ray Cross on Tuesday asked the Legislature's budget-writing committee to approve a new public authority for the UW System, a "dedicated and stable funding stream" and to reduce the governor's proposed $300 million budget cut over the next two years.

Shortly after he finished his testimony, a handful of protesters burst into the room shouting, "No cuts, no deals." Followed by four Capitol police officers, the protesters marched past the table where Cross was sitting to give testimony before the Joint Committee on Finance.

If Park Bank is liable for not spotting Sujata "Sue" Sachdeva's $34 million embezzlement from Koss Corp. and has to reimburse the company, Koss Chief Executive Michael Koss should also be ordered to personally pay the public company he runs, the bank argues in a new lawsuit.

Grant Thornton, Koss Corp.'s former auditor, should also have to pay a portion of any award that may be ordered, Park Bank argued in the latest twist in a long-running court fight stemming from Sachdeva's massive embezzlement.

"Park Bank denies any and all liability to Koss in this case," the bank said in its action. "Nevertheless, should Park Bank be found liable to Koss (Corp.) and required to pay damages to Koss, in this case, those damages will have been the result of a common liability of Park Bank, Michael Koss and Grant Thornton, thereby entitling Park Bank to (a) contribution from Michael Koss and Grant Thornton."(3)

Court disbars lawyer who gambled client's millions

Thomas H. Koch, who gambled away millions of dollars he had recovered for a Texas client, had his law license revoked Wednesday by the Wisconsin Supreme Court.

Koch, 46, of Greenfield, was charged with theft of $2.4 million in February, He consented to the law license revocation rather than defend against related professional misconduct claims being investigated by the Office of Lawyer Regulation.

According to the criminal complaint, Koch (Marquette, '90) worked for Affiliated Computer Services, a Dallas-based company, that checks to see whether medical insurers are recovering costs for injuries when possible. ACS hired Koch in 2001 to pursue such cases in the Milwaukee area for ACS’s insurance company clients.

In 2007, a new litigation manager at ACS noticed Koch had about 360 open claims. When he failed to reply to her request for status updates, she found that about 270 had been settled, but that no proceeds had been forwarded to ACS.

The Supreme Court noted in its ruling that Koch admitted his embezzlement once confronted by ACS, and has entered treatment for compulsive gambling.

Koch pleaded guilty to the criminal charge in May and is scheduled for sentencing in September. He faces a maximum penalty of 10 years in prison but will likely get a much lighter sentence that would allow him to try to make restitution.

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